The laboratory-grown diamonds market is experiencing significant growth and expansion. While it is still smaller in comparison to the natural diamond market, it is steadily gaining traction and becoming more widespread.
The lab-grown diamond market is attracting attention from various segments of consumers, including those seeking ethical and sustainable alternatives to mined diamonds, as well as budget-conscious buyers looking for high-quality diamonds at a more affordable price.
Lab-grown diamonds are available in a wide range of jewellery pieces, including engagement rings, wedding bands, necklaces, earrings, and more. Jewellers and retailers are increasingly offering lab-grown diamonds as part of their product offerings, providing consumers with more choices and options.
The market is also benefitting from advancements in technology and production processes, leading to better quality lab-grown diamonds with improved colour, clarity, and cut. Additionally, the lab-grown diamond industry is receiving investments and support from various players, including established diamond companies and new entrants, which further contributed to its growth and expansion.